by our College Data Analytics TeamMost students will never be charged the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The price tag of going to Nova Academy of Cosmetology can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
Just what financial assistance solutions will Nova Academy of Cosmetology provide, and just what are you going to be eligible for? Read on for answers. Read on to learn how much school funding will be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Read on to get a sense of the financial assistance available at Nova Academy of Cosmetology.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
For freshmen starting at Nova Academy of Cosmetology, 100% of new full-time first-years were awarded at least some aid roughly 167 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 72% | $4,557 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 50% | $4,486 |
| State/local grants | 44% | $2,420 |
| Federal student loans | 82% | $5,125 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. At this school, approximately 50% of undergraduate students received gift aid averaging $5,681 (covering around 175 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 50% | $5,681 |
| Federal Pell grants | 35% | $4,817 |
| Federal student loans | 60% | $5,747 |
On-campus students receiving title-IV aid were awarded grants averaging $3,754.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $28,294 |
| $30,001 – $75,000 | $29,178 |
| Over $75,000 | $31,799 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $21,473 |
| Off-campus title-IV students | $29,705 |
For a personalized estimate based on your family’s financial situation, use Nova Academy of Cosmetology’s NPC: novaacademy.edu/wp-content/uploads/2023/08/Nova-Rochester-Mankato-Net-Price-Calculator.html.
The middle student in the debt distribution at Nova Academy of Cosmetology owes $7,863 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $7,863 |
| Median federal debt (graduates only) | $9,424 |
| Typical 10-year monthly payment (graduates) | $99.91/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
A single median figure conceals how much debt outcomes differ student to student. These percentiles trace how cumulative federal debt is spread among borrowers at Nova Academy of Cosmetology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,595 |
| 25th percentile | $5,500 |
| 75th percentile | $9,999 |
| 90th percentile (highest-debt students) | $15,318 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $7,115 |
| Middle income | $7,863 |
| High income | $9,086 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $7,889 |
| Continuing-generation students | $6,752 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,856 |
| Independent students | $8,017 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. Nova Academy of Cosmetology.
Stafford loans are the federal government’s primary direct undergraduate lending program. The totals below capture Stafford lending at Nova Academy of Cosmetology:
| Metric | Value |
|---|---|
| Stafford loan recipients | 806 |
| Total Stafford loan amount | $7,022,068 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 1 |
| Total GI Bill amount | $5,000 |
| Average GI Bill amount per recipient | $5,000 |
References
More about our data sources and methodologies.